Cobra's Market View

Cobra wrote:seems like a head fake or at least it's not a strong breakout. still statistically, it's very rare to up huge here. Lunch time, see you later.

laoda, you forgot to say: I will be BACC :twisted:

ES
We're there.
http://99ercharts.blogspot.com/2011/06/es_9354.html

BullBear52x wrote:

Tabby wrote:

BullBear52x wrote:You ain't no real bear if not here and not now.

Correction,
This is Scooby Doo Snake board. No bears or bulls plz, only snakes, up to 1298.

Ok Snaky it here on the down side

Snaky dumped TNA and will rebuy TNA 2morrow for scalping for 50cents.
Have a good day to all Snakes.

soku wrote:good data, no significant movement. interesting
key points ahead are 84.75 and 90.5

this market is boring. since 10:00 we don't have any significant move. indicators are negative while price is stubborn. 1 is dragging the other.
as a trader, i need fluctuation and volatility. hope my short will be triggered this time

99er wrote:ES
We're there.
http://99ercharts.blogspot.com/2011/06/es_9354.html

Funny. Just had that song, "Rock Lobster" from B-52's (remember them?!) go through my head; "Down, down, down..."

I haven't been posting or reading others posts (except Cobra of course) but when I skim thru I see a lot of charts I have difficulty seeing what is trying to be shown. I have always felt the more simple you can make it, the better it is.

My chart I think is simple. The upper black line is where the SPY closed at end of Quarter 1. This week's rally is an attempt to gain some ground after a 2nd quarter full of bad news, bad weather, and the fallout of tragic events. It's not hard to understand why the quarter will close in the red.

But since Wall St. wants to run off to the Hamptons for 4th of July weekend with fatter pockets, I expect SPY to reach the green line by Thursday. Now that we've cleared my downtrend channel, the vote in Greece is all that stands in the way.

99er wrote:ES
We're there.
http://99ercharts.blogspot.com/2011/06/es_9354.html

Great timing again, but there's that green line up there if bull's in control. Just trying keep my eyes open.

DaWay: "that green line up there if bull's in control"

The market makers would like everyone to see that line...so they have people to sell to. Caution Bulls.

You can feel the distribution.

agnosia wrote:

Anaconda wrote:

agnosia wrote:this rally is headed to 1295 /es.. the 150sma from the daily. that's a good place to short or sell longs..

Yes. That's been my plan, as well.

since we are both expecting the same level it probably won't happen. lol.

we may just end up at my R3

R3-> 1291.50-1292.50

The average of the last 60 min uptrends (of >0.65% gain each) plus one standard deviation is now 1296. And there are two fib overlaps at 1295 stemming from the March low and the November 2010 low. So a stall here might be expected. I don't see the volume, and the USD has been in an up trend since this morning. But, any pull back could find support in 1284 area, and next few weeks could be up since many indicators in the Daily time frame look like they're starting to turn up. Any pull-back could be buying opportunity. Remember, over the course of the last year a lot of melt ups have been on declining volume. Go figure.

I believe we'll see a 2 legged pullback somewhere around here (5 min chart).

99er wrote:DaWay: "that green line up there if bull's in control"

The market makers would like everyone to see that line...so they have people to sell to. Caution Bulls.

You can feel the distribution.

You are correct. My lines are always defined by accumulation (bounce) and distribution (rejection).

finally .. i am long a few contracts from 91.50 and here comes 93.40 as promised before ...

What is the statistic on sell at the end of 5 positive hourly bars? LOL. are we rushing to the moon or something here.

It looks like we are on auto pilot today, 45 mins more so maybe...

Hello Cobra, Anaconda, 99er and all Snake People!
I am back and see that you are active and doing great.
Going through some charts and some of the posts here…They are indeed helpful for getting back in the “trading mode”…

SPX
MACD cross coming your way.
http://99ercharts.blogspot.com/2011/06/spx_7336.html

99er wrote:DaWay: "that green line up there if bull's in control"

The market makers would like everyone to see that line...so they have people to sell to. Caution Bulls.

You can feel the distribution.

How does a person "feel" distribution? Why does the market keep rising even when bearish comments keep being made? As traders one must believe the market can rally too.

cougar wrote:Hello Cobra, Anaconda, 99er and all Snake People!
I am back and see that you are active and doing great.
Going through some charts and some of the posts here…They are indeed helpful for getting back in the “trading mode”…

Welcome "home" and join the party... Interesting crossroads we're at. Itchy finger, waiting to pull the trigger on 1295. We may have a little more to go over that, but I feel safe in shorting there.

come on baby almost there.. come to papa

cheech: "How does a person "feel" distribution?"

Some one else on this board may know of a technical indicator or two but I think you can "feel" it when prices are consolidating but important indicators (for me, RSI, MACD and Stochastics) indicate an oversold position and prices "should" fall. Generally, there is a rounding pattern involved. If you stare at charts long enough, you'll know what I mean.